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YEXT INC

Yext

Yext Inc provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and sync it to approximately 200 services including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp. Digital knowledge is the structured information that a business wants to make publicly accessible. The company also makes search intelligent by helping to provide precise, accurate and current answers to location-based queries that are conducted across the web and mobile applications and voice and artificial intelligence, or AI, engines. The company derives the majority of its revenues from subscription services. Geographically, the company generates a majority of its revenue from North America and the rest from International markets.

Yext Inc

On Wednesday, April 2nd, U.S. markets closed mixed after a turbulent session as investors positioned themselves ahead of President Trump&#8217;s sweeping tariff announcement. While stocks gained during regular trading, S&amp;P 500 and Nasdaq futures fell sharply afterward, reacting to a proposed 10% baseline import tariff and stricter measures on key trade partners, fueling market volatility and investor unease.
In economic data, U.S. private businesses added 155,000 jobs in March, beating expectations. Meanwhile, factory orders rose 0.6% in February, down from January&#8217;s revised 1.8% increase.
Most S&amp;P 500 sectors closed higher, led by industrials and financials, though consumer staples and some consumer discretionary stocks ended lower.
The Dow Jones Industrial Average rose 0.56% to 42,225.32, the S&amp;P 500 gained 0.67% to 5,670.97, and the Nasdaq Composite increased 0.87% to close at 17,601.05.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/25/04/44618089/trumps-tariffs-surprise-triggers-carnage-magnificent-7-set-to-wipe-out-nearly-700-billion-in-market-value" rel="noreferrer noopener">Markets Reel As Trump&#8217;s Tariffs Hit — Magnificent 7 Set To Shed Almost $700 Billion</a>
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 closed the session lower by 2.73% at 34,751.00, led by losses in the Paper &amp; Pulp, Transport and Communication sectors.</li>
<li>Japan&#8217;s Nikkei fell to an eight-month low after Trump unveiled steep tariffs, including a 24% levy on Japanese goods. This sparked a broad market selloff and investor risk-off sentiment.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 was down 0.94% and closed at 7,859.70, led by losses in the IT, Energy and Resources sectors.</li>
<li>India&#8217;s Nifty 50 was down 0.38% to 23,243.10, and Nifty 500 declined 0.13% to 21,237.80.</li>
<li>China&#8217;s Shanghai Composite declined 0.24% to 3,342.01, while the Shanghai Shenzhen CSI 300 slid by 0.59% to 3,861.50.</li>
<li>Hong Kong&#8217;s Hang Seng was down 1.77%, ending the session at 22,792.00.</li>
</ul>
Eurozone at 05:45 AM ET
<ul>
<li>The European STOXX 50 was down 2.12%.</li>
<li>Germany&#8217;s DAX declined 1.52%.</li>
<li>France&#8217;s CAC 40 fell 2.09%.</li>
<li>U.K.&#8217;s FTSE 100 index traded lower by 1.16%.</li>
<li>European stocks tumbled as Trump&#8217;s sweeping tariffs on all U.S. imports sparked global trade tensions. Markets fear an economic slowdown, with oil prices sliding and the EU, China, and others planning retaliation.</li>
</ul>
Commodities at 05:45 AM ET
<ul>
<li>Crude Oil WTI was trading lower by 4.00% at $68.83/bbl, and Brent was down 3.83% at $72.08/bbl.</li>
<li>Oil prices plunged Thursday as Trump&#8217;s steep new tariffs sparked fears of a global trade war, dampening growth and fuel demand.</li>
<li>Natural Gas slid 0.20% to $4.047.</li>
<li>Gold was trading lower by 0.56% at $3,148.31, Silver was down 4.75% to $33.008, and Copper fell 2.37% to $4.9215.</li>
</ul>
U.S. Futures at 05:45 AM ET
<ul>
<li>Dow futures were down 2.44%, S&amp;P 500 futures declined 3.03% and Nasdaq 100 futures slid 3.33%.</li>
<li>U.S. stock futures fell sharply after President Trump announced sweeping new tariffs, including a 10% baseline on all imports and higher duties on countries like China, the EU, and Japan. Auto tariffs also took effect, fueling global trade tensions and recession fears.</li>
</ul>
Forex at 05:45 AM ET
<ul>
<li>The U.S. Dollar Index fell 1.56% to 102.05, USD/JPY was down 1.86% to 146.50, and USD/AUD declined 0.66% to 1.5774.</li>
<li>The dollar weakened on Thursday following President Trump&#8217;s sweeping tariff announcement, as investor concerns over a potential global economic slowdown grew. Ongoing uncertainty and weaker U.S. data have continued to weigh on the dollar.</li>
</ul>
Image via Shutterstock

Asia

News

Emerging Markets

Eurozone

Commodities

Forex

Markets

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Global Markets Rattle With Trump's Tariff, Dollar Weakens, Oil Tanks - Global Markets Today While US Slept

ViaSat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) on Thursday disclosed that it has been chosen by Riyadh Air to offer fast and free in-flight connectivity to its loyalty members on its first Boeing 787 Dreamliner aircraft <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/g44621952/riyadh-air-selects-viasat-to-power-full-fast-free-streaming-connectivity-on-boeing-787-dreamliner-" rel="noreferrer noopener">with factory-installed systems</a>.
Riyadh Air, which is Saudi Arabia&#8217;s new premium international airline, plans to utilize Viasat&#8217;s state-of-the-art, multi-orbit ready satellite network.
Riyadh Air&#8217;s passengers can stream their own subscription services on personal devices, a feature prioritized by 71% of surveyed travelers.
Viasat&#8217;s network will also support Live TV on seatback screens, offering news and sports channels.
Additionally, the seamless Wi-Fi integration will enhance Riyadh Air&#8217;s apps, digital platforms, and seatback entertainment, delivering a highly personalized travel experience.
Anton Vidgen, VP Guest Experience at Riyadh Air said, &#8220;Partnering with Viasat, we were empowered to realize our discerning vision for guests&#8217; connectivity. In turn, our guests will enjoy free, personalized, and seamless Wi-Fi that will fully integrate with the full Riyadh Air experience.&#8221;
Meherwan Polad, Chief Commercial Officer, Viasat Commercial Services, added, &#8220;Riyadh Air&#8217;s vision to create a digitally native, guest-centric airline aligns perfectly with Viasat&#8217;s mission to connect the world. We are proud to be selected as Riyadh Air&#8217;s launch connectivity partner, providing our most advanced Ka-band technology to power their comprehensive onboard experience across all routes they operate.&#8221;
Last month, ViaSat announced that the NATO Military Committee had approved its next-generation DARC-ssd 600 for securing up <a target="_blank" href="https://www.benzinga.com/25/03/44475074/whats-going-on-with-viasat-stock-today" rel="noreferrer noopener">to NATO SECRET data at rest</a>.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Future Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITE#NYSE">FITE</a>) and&nbsp;Procure Space ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).
Price Action: VSAT shares are down 2.82% at $9.99 premarket at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/44622000" target="_blank" rel="noreferrer noopener">Warren Buffett Avoids Bitcoin, But Do You Know Berkshire Hathaway Owns Stake In A Company That Pitches BTC As &#8216;Critical&#8217; Inflation Hedge</a></li>
</ul>
Photo via Shutterstock.

Equities

Contracts

Small Cap

FITE

VSAT

ViaSat Lands Deal With Riyadh Air To Deliver In-Flight Wi-Fi And Entertainment

Billionaire investor and the founder of Bridgewater Associates, Ray Dalio, has issued a warning about the economic ripples of escalating tariffs. In a recent analysis, Dalio dissects the &#8220;tariff machine,&#8221; revealing its impact on global markets and highlighting the potential for &#8220;abrupt, unconventional changes.&#8221;
What Happened: Dalio&#8217;s <a href="https://www.linkedin.com/pulse/effects-tariffs-how-machine-works-ray-dalio-vg96e/?trackingId=D2tOKBq4SNm%2BjsGvFMeldA%3D%3D">analysis</a> highlights the &#8220;first-order&#8221; effects of tariffs but goes on to explain how the &#8220;second-order&#8221; effects are where the true market volatility lies. However, he conveys that despite "abrupt, unconventional changes" in the global markets and economies, the production, trade, and capital imbalances will ultimately come down. 
He emphasizes that the U.S. dollar&#8217;s reserve currency status, while advantageous, will contribute to these imbalances, adding another layer of complexity. However, the long-term stability of markets will depend on trust in debt quality, national productivity, and sound political systems.
Overall, he explains that "non-market, non-economic adjustments would have unique and challenging impacts on the countries they apply to."
See Also: <a href="https://www.benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains">Trump Tariffs Could Cost $30 Trillion Or About $300,000 Per Family, Says Former Treasury Secretary Larry Summers: &#8216;Most Expensive And Masochistic&#8217;</a>
Why It Matters: The first order effects of tariffs, which he describes as "taxes," lead to;
<ul>
<li>Revenue Generation: Tariffs create tax revenue for the imposing country, paid by both foreign producers and domestic consumers, making them a potentially attractive fiscal tool.</li>
</ul>
<ul>
<li>Reduced Global Efficiency: Tariffs decrease the overall efficiency of global production and trade.</li>
</ul>
<ul>
<li>Stagflationary Impact: Tariffs contribute to global stagflation, with deflationary effects on the tariffed producer and inflationary effects on the importing country.</li>
</ul>
<ul>
<li>Domestic Market Protection: Tariffs shield domestic companies from foreign competition, potentially reducing their efficiency but increasing their survival chances when domestic demand is supported.</li>
</ul>
<ul>
<li>Strategic Necessity: In times of international conflict, tariffs are essential for ensuring domestic production capabilities.</li>
</ul>
<ul>
<li>Dependency Reduction: Tariffs can mitigate current account and capital account imbalances by lessening reliance on foreign production and capital, crucial during geopolitical tensions.</li>
</ul>
Dalio explains that these first-order effects don't determine the impact on the economies of the tariffing and tariffed nations, as it is contingent on the retaliatory tariff actions of affected nations. The resulting currency rate fluctuations and the adaptive monetary and fiscal policy responses of central banks and governments determine the real economic impact.
The second-order effects of tariffs include;
<ul>
<li>Reciprocal Tariffs Amplify Stagflation: Retaliatory tariffs from affected countries lead to widespread stagflationary pressures.</li>
</ul>
<ul>
<li>Monetary Policy Adjustments: Central banks respond to deflationary pressures by easing monetary policy, weakening currency, and lowering real interest rates, and conversely, tighten policy to strengthen currency and raise rates in inflationary environments.</li>
</ul>
<ul>
<li>Fiscal Policy Changes: Governments adjust fiscal policies, easing spending during disinflation and tightening during inflation, to mitigate the economic impacts of tariffs.</li>
</ul>
Daalio's View: "So there are a lot of moving parts and there is a lot to measure in order to judge the market impacts of big tariffs. These impacts go beyond the first six first points I made about the first order effects of tariffs, which are influenced by the second order effects I referred to," stated Dalio.
Another billionaire investor, Bill Ackman, the CEO of Pershing Square, stated in a X post that countries should accelerate making deals with the U.S. and refrain from retaliating. However, Dalio's analysis highlights how tariffs will likely impact the global supply chains, economies, and markets, which would make the negotiations much more complex.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The countries that make the first tariff deals with <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> will make the better deals. The countries that wait or retaliate will regret that they were not part of the early deal group or worse.
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1907605988087115832?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell in premarket on Thursday. The SPY was down 2.98% to $547.70, while the QQQ declined 3.27% to $460.58, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44622677/meta-amd-apple-att-among-biggest-us-tech-multinationals-that-may-suffer-the-most-as-tariffs-spark-trade-turmoil-heres-why">Meta, AMD, Apple, AT&amp;T Among Biggest US Tech Giants That &#8216;May Suffer The Most&#8217; As Tariffs Spark Trade Turmoil: Here&#8217;s Why</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Government

Macro Economic Events

Market Summary

Futures

Economics

Ray Dalio Warns Of 'Abrupt, Unconventional Changes' In Markets: Here's How The 'Tariff Machine' Affects Currency, Monetary And Fiscal Policies

Needham analyst Laura Martin reiterates CuriosityStream (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURI#NASDAQ">CURI</a>) with a Buy and maintains $3 price target.

Price Target

Reiteration

Analyst Ratings

CURI

Needham Reiterates Buy on CuriosityStream, Maintains $3 Price Target

Needham analyst Laura Martin reiterates Stagwell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STGW#NASDAQ">STGW</a>) with a Buy and maintains $9 price target.

STGW

Needham Reiterates Buy on Stagwell, Maintains $9 Price Target

Mozilla is expanding its Thunderbird email client into a full-fledged communications platform, launching Thundermail and Thunderbird Pro to compete directly with Gmail by Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Microsoft Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) subscription service, Microsoft 365.
What Happened: On Wednesday, Mozilla announced the overhaul of Thunderbird Pro, which includes Thunderbird Appointment, a scheduling tool for sharing calendar links; Thunderbird Send, a revival of the discontinued Firefox Send; and Thunderbird Assist, an AI-powered writing assistant developed with Flower AI.
Unlike traditional services, Thunderbird Pro underscores local AI processing to ensure privacy.&nbsp;
See Also:<a href="https://www.benzinga.com/news/24/10/41157583/gmail-introduces-dynamic-summary-cards-for-easier-tracking-of-purchases-events-and-more"> Gmail Introduces Dynamic Summary Cards For Easier Tracking Of Purchases, Events, And More</a>
The company is also launching Thundermail, which will use the open-source Stalwart stack and allow users to choose between thundermail.com and tb.pro domains for email hosting.
&#8220;Heading to thundermail.com, you will see a signup page for the beta waitlist. Please add your name to it,&#8221; said Ryan Sipes, Managing Director, Product Thunderbird.
Will It Be Free? No. Initially, Mozilla will charge for these services, especially features like Thunderbird Send (since storage is expensive). The service will be available for free to select contributors. However, once they have a stable user base, the company plans to introduce free tiers with limitations (e.g., reduced storage).
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Thunderbird has been losing users over time—its active monthly installs have dropped from 17.7 million in 2020 to 16.2 million in 2025.
By adding Thundermail and new paid features, Mozilla hopes to build a sustainable business model and attract users who value privacy, transparency, and open-source software.
&#8220;Thunderbird loses users each day to rich ecosystems that are both clients and services, such as Gmail and Office365,&#8221; stated Sipes, adding, &#8220;It is our goal to eventually have a similar offering so that a 100% open source, freedom-respecting alternative ecosystem is available for those who want it.&#8221;
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/04/44621978/vinod-khosla-was-an-early-investor-in-openai-but-hes-no-fan-of-founder-friendly-venture-capitalism-i-hate-the-culture">Vinod Khosla Was An Early Investor In OpenAI But He&#8217;s No Fan Of Founder-Friendly Venture Capitalism: &#8216;I Hate The Culture&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

GOOG

GOOGL

MSFT

Mozilla's Thunderbird Evolves With Thundermail And Pro Features To Compete With Gmail, Microsoft 365 In The Email Wars

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has denied rumors of his premature departure from the Donald Trump administration. This comes despite his recent unpopularity influencing a state supreme court race.
What Happened: Musk dismissed circulating reports that he was preparing to leave his role as head of the Department of Government Efficiency (DOGE) in the Trump administration.
Meanwhile, the White House Press Secretary Karoline Leavitt called the reports &#8220;garbage&#8221; while confirming that Musk would &#8220;depart&nbsp;from public service as a&nbsp;special government employee when his&nbsp;incredible work&#8230; is complete&#8221;.
Musk responded to the post by Leavitt and wrote, &#8220;Yeah, fake news&#8221;.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="598" height="238" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03055919/image-1-9.png" alt="" class="wp-image-854957" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03055919/image-1-9.png 598w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03055919/image-1-9-300x119.png 300w" sizes="(max-width: 598px) 100vw, 598px" /></figure>
Musk expressed confidence in a recent interview at Fox News with Bret Baier that he would achieve most of his goal of cutting $1 trillion in federal spending by the end of his 130 days. However, in another Fox Business interview when host, Larry Kudlow asked if he is going to continue another year, Musk answered, &#8220;Yeah, I think so.&#8221;
See Also: <a href="https://benzinga.com/markets/25/03/44556147/mark-cuban-warns-of-red-rural-recession-as-hundreds-of-small-town-maga-supporters-reportedly-lose-federal-jobs-their-finances-will-be-turned-upside-down" target="_blank" rel="noreferrer noopener">Mark Cuban Warns Of &#8216;Red Rural Recession&#8217; As Hundreds Of Small Town MAGA Supporters Reportedly Lose Federal Jobs </a>
Why It Matters: Speculation about Musk <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44611347/is-elon-musk-leaving-doge-role-trump-tells-cabinet-move-could-happen-soon-report">returning to the private sector</a> boosted shares of Tesla. Despite an initial 6% drop due to weak Q1 deliveries, Tesla&#8217;s stock unexpectedly rebounded by Wednesday afternoon.
The reports of Musk&#8217;s exit came on the heels of the Republican candidate, Brad Schimel, losing the Wisconsin Supreme Court election to Democrat candidate, Susan Crawford.
Elon Musk spent over $25 million on a Wisconsin judicial race, claiming it was crucial for civilization's future. He used a strategy from last year's election, offering voters $100 to sign a petition and personally handing out $1 million checks to some signatories. Anticipating defeat, he acknowledged last month that unseating a liberal candidate would be challenging due to higher Democratic voter enthusiasm.
However, his blunt approach to mass layoffs from the government workforce, resulting in nearly 200,000 employees being fired, earmarked for termination, or accepting buyouts, has stirred unease across the U.S.
Republican lawmakers are facing backlash at chaotic town halls, Doge&#8217;s initiatives are facing lawsuits, Tesla dealerships have been vandalized, and a nationwide protest against Doge and Trump&#8217;s agenda is planned for Saturday.
Tesla climbed 5.33% on Wednesday to close at $282.76 on Wednesday. 
<ul>
<li>Read Next:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44620423/trumps-sweeping-tariffs-could-cost-us-20-trillion-crash-markets-warn-economists-monstrously-dest" target="_blank" rel="noreferrer noopener">Trump&#8217;s Sweeping Tariffs Could Cost US $20 Trillion, Crash Markets Warn Economists: &#8216;Monstrously Destructive&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA

Elon Musk, White House Deny Reports Of Tesla CEO's Early Exit From Trump Team

Needham analyst Serge Belanger reiterates Arcutis Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQT#NASDAQ">ARQT</a>) with a Buy and maintains $20 price target.

ARQT

Needham Reiterates Buy on Arcutis Biotherapeutics, Maintains $20 Price Target

Survival Kids represents the first time Unity has designed and developed a game end-to-end in collaboration with a publisher partner.
 &nbsp;

Unity Develops Day-One Release Title For Nintendo Switch 2, Survival Kids, In Close Partnership With Konami

Offerings

MAMO

Massimo Group Filed for Mixed Shelf of Up to $100M

SQNS

Sequans Regains Compliance With NYSE Continued Listing Standards

U.S. stock futures plummeted on Thursday after advancing on Wednesday. Futures of major benchmark indices were down over 2-3% in premarket trading.
Invoking a 1977 law, President Donald Trump declared a trade emergency Wednesday, arguing it was necessary to address the U.S.&#8217;s "large and persistent trade deficit." The White House <a href="https://www.benzinga.com/markets/25/04/44621408/market-access-has-a-price-trump-unveils-list-of-tariffs-countries-targeted">released a fact sheet</a> outlining the new reciprocal tariffs, which Trump justified with the principle, "Treat us like we treat you." 
While Canada and Mexico were notably excluded from the tariff program, China, Vietnam, Cambodia, and Sri Lanka face the steepest increases under the new system. Gold prices soared to a fresh record of $3,167.71 per ounce, and investors fled toward safe-haven assets.
The 10-year Treasury bond yielded 4.06% and the two-year bond was at 3.78%. The CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool </a>shows markets pricing in a 76.7% likelihood of the Federal Reserve maintaining current interest rates through its May meeting. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-2.54%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-3.04%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-3.29%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-4.29%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, slumped in premarket on Thursday. The SPY was down 3.08% to $547.11, while the QQQ declined 3.36% to $460.17, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From Last Session:
Consumer discretionary, industrials, and financials led a broad S&amp;P 500 rally Wednesday, pushing the Dow Jones over 200 points, despite President Trump&#8217;s later announcement of trade tariffs.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 5%, even after reporting weak delivery numbers. Contrary to the market&#8217;s upward trend, consumer staples closed lower.
Positive economic data, showing stronger-than-expected job growth and rising manufacturing orders, contributed to the day&#8217;s gains, though Trump&#8217;s trade actions sparked fears of a potential economic downturn.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.87%</td>
<td>17,601.05</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.67%</td>
<td>5,670.97</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.56%</td>
<td>42,225.32</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.65%</td>
<td>2,045.36</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Senior economist Jeremy Siegel, in his weekly commentary, explained that the public is more willing to endure the near-term friction and economic headwinds from the cuts to inefficient government spending rather than "facing higher prices via tariffs, which bring near-term pain with very uncertain long-term benefit."
He said, "Dividend-paying value stocks look increasingly attractive, and I expect the market rotation from growth to dividend stocks to continue."
"Equity weakness has been widespread. The rotation out of growth continues, and the AI-led rally that defined the market over the last three years has decisively broken trend. Growth stocks have taken a larger hit than value stocks," he added.
Meanwhile, other analysts opined with their views on the tariffs. Wedbush&#8217;s Daniel Ives said, &#8220;We would characterize this slate of tariffs as ‘worse than the worst case scenario&#8217; the Street was fearing.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We would characterize this slate of tariffs as &quot;worse than the worst case scenario&quot; the Street was fearing. The biggest focus will be the China 34% tariff and Taiwan 32% and how this impacts supply chain and demand. Negotiations the only option at this point for White House.
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1907611902047338791?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Economist Mohamed El-Erian said that the tariffs imposed by Trump point to &#8220;major worries about global economic growth.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price action in global financial markets in the immediate aftermath of the US tariff announcement points to major worries about global economic growth.<a href="https://twitter.com/hashtag/economy?src=hash&amp;ref_src=twsrc%5Etfw">#economy</a> <a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1907687511448572001?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Justin Wolfers, senior fellow at the Brookings Institution, said that the "announcement was so much worse than expected that it caused the chance of a 2025 recession to rise from 42% to 52%.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Prediction markets had already priced in their best guess of the Trump tariffs. Today&#39;s announcement was so much worse than expected that it caused the chance of a 2025 recession to rise from 42% to 52%. <a href="https://t.co/brDWjfNykx">pic.twitter.com/brDWjfNykx</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1907619681248108764?ref_src=twsrc%5Etfw">April 3, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How to Trade Futures</a> 
Upcoming Economic Data
Here&#8217;s what investors will keep an eye on Thursday:
<ul>
<li>The initial jobless claims data for the week ending March 29 and February&#8217;s U.S. trade deficit data will be released by 8:30 a.m. ET.</li>
</ul>
<ul>
<li>March&#8217;s S&amp;P final U.S. services PMI and ISM services will be announced between 9:45 and 10:00 a.m. ET.</li>
</ul>
<ul>
<li>Fed Vice Chairman Philip Jefferson will speak at 12:30 p.m., and Fed Governor Lisa Cook will speak at 2:30 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Acuity Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) was down 0.57% in premarket on Thursday ahead of its earnings before the opening bell. Analysts expect a quarterly earnings of $3.70 per share on revenue of $1.03 billion.</li>
</ul>
<ul>
<li>Conagra Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAG#NYSE">CAG</a>) dropped 2.39% as Wall Street expects it to report a quarterly earnings of 53 cents per share on revenue of $2.90 billion before the opening bell.</li>
</ul>
<ul>
<li>Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) declined 2.38% ahead of its earnings after the closing bell. Analysts expect a quarterly earnings of $1.70 per share on revenue of $86.09 billion.</li>
</ul>
<ul>
<li>RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) slumped 26.31% after reporting weaker-than-expected fourth-quarter financial results after the market closed on Wednesday. Its fourth-quarter revenue of $812.41 million, missing the consensus estimate of $829.56 million</li>
</ul>
<ul>
<li>Penguin Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENG#NASDAQ">PENG</a>) rose 4.60% as it posted better-than-expected results for its second quarter on Wednesday. The company said it sees FY25 net sales growth of 17% year-over-year and adjusted EPS of $1.60.</li>
</ul>
<ul>
<li>Genasys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNSS#NASDAQ">GNSS</a>) surged 41.55% after receiving $2.5 million worth of LRAD orders from the U.S. Military for Army, Navy, and Air Force units. LRAD systems provide long-range communication and escalation of force capabilities up to 5,000 meters, and are used globally.</li>
</ul>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) dropped after Elon Musk clarified his exit from the government&#8217;s DOGE as "fake news."</li>
</ul>
Commodities, Gold, And Global Equity Markets:
Crude oil futures were trading lower in the early New York session by 3.75% to hover around $69.02 per barrel.
Gold Spot US Dollar declined 0.15% to hover around $3,122.96 per ounce. Its fresh record high stood at $3,167.71 per ounce. The U.S. Dollar Index spot was lower by 1.68% at the 102.060 level.
Asian markets closed on a lower note on Thursday. India's S&amp;P BSE Sensex, Japan's Nikkei 225, Australia's ASX 200, China&#8217;s CSI 300, Hong Kong's Hang Seng, and South Korea's Kospi index fell. European markets were also lower in early trade.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains">Trump Tariffs Could Cost $30 Trillion Or About $300,000 Per Family, Says Former Treasury Secretary Larry Summers: &#8216;Most Expensive And Masochistic&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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ETFs

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PENG

US Stocks Likely To Open Lower Following Trump's Tariffs: 'Worse Than The Worst Case Scenario,' Says Analyst

The transaction will bolster Rust-Oleum's expanding cleaners business with a fast-growing and disruptive brand known for the high performance of its products and innovative marketing.
The Pink Stuff generated calendar year 2024 net sales of approximately £150 million. The transaction is expected to close late in fourth quarter of fiscal 2025 or early in the first quarter of fiscal 2026, subject to customary closing conditions.&nbsp;
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RPM Agrees To Acquire The Star Brands Group, The UK-Based Parent Company Of The Pink Stuff; Terms Not Disclosed

SSGA and Ethic also announced a strategic partnership to deliver customized investment solutions at scale to SSGA's institutional and financial intermediary clients.
Today's announcement reflects SSGA leading Ethic's $64 million Series D funding round.

State Street Global Advisors Reveals Equity Investment In Ethic; SSGA Leads Ethic's $64M Series D Funding Round

FAMI

Farmmi Regains Compliance With Nasdaq's Minimum Bid Price Requirement

The Independent Data Monitoring Committee recommended terminating the ongoing Phase 3 AdvanTIG-302 trial (NCT04746924) based on its findings as part of a pre-planned futility analysis. The overall efficacy and safety data assessment suggested that the study was unlikely to meet the primary endpoint of overall survival. No new safety signals were observed. After thorough deliberation, the Company has made the decision to terminate the trial.&nbsp;

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General

BeiGene Has Discontinued Its Clinical Development Program For Ociperlimab (BGB-a1217), An Anti-TIGIT Antibody, As A Potential Treatment For Lung Cancer

Acuity Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) reported quarterly earnings of $3.73 per share which beat the analyst consensus estimate of $3.70 by 0.81 percent. This is a 10.36 percent increase over earnings of $3.38 per share from the same period last year. The company reported quarterly sales of $1.01 billion which missed the analyst consensus estimate of $1.03 billion by 2.18 percent. This is a 11.05 percent increase over sales of $905.90 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Acuity Brands Q2 2025 Adj EPS $3.73 Beats $3.70 Estimate, Sales $1.01B Miss $1.03B Estimate

OTIS

Italian Competition Authority Accepts Commitments Offered By Otis Servizi And Closes Investigation Opened In October 2024; Company Agrees To Pay ~$1.6M

Arthur J. Gallagher Acquires London, UK-Based Bircroft Insurance Services; Terms Not Disclosed

Former Treasury Secretary Larry Summers said on Thursday that President Donald Trump&#8216;s tariffs will cause an &#8220;oil crisis-like shock&#8221; to the economy, simultaneously spiking prices and unemployment while shrinking productive capacity.
What Happened: Summers <a href="https://www.bloomberg.com/news/articles/2025-04-02/summers-says-trump-tariffs-to-impose-oil-shock-type-economic-hit">told</a> Bloomberg Television that the tariffs should be seen as &#8220;a supply shock,&#8221; comparable to &#8220;an oil-price spike or earthquake or a drought,&#8221; with significant economic consequences.
Potential economic losses, according to Summers, <a href="https://www.benzinga.com/25/04/44622754/tariffs-are-most-expensive-and-masochistic-could-cost-30-trillion-to-the-economy-erasing-300k-per-family-explains">may amount to $30 trillion</a>, or significantly more than $300,000 for a household of four people.
The &#8220;reciprocal&#8221; duties, which <a href="https://www.benzinga.com/markets/equities/25/04/44620686/sp-500-nasdaq-futures-plunge-over-3-as-trumps-reciprocal-tariff-plan-hits-market-confidence">go into effect on Apr. 9</a>, are half of what Trump says trading partners charge for American goods. The countries with the biggest duty rises include Sri Lanka (44%), Vietnam (46%), and China (34%).
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44621297/tesla-brand-wont-suffer-from-elon-musks-antics-says-analyst-despite-delivery-miss-8-stock-drop-in-after-hours-trading">Tesla Brand Won&#8217;t Suffer From Elon Musk&#8217;s &#8216;Antics,&#8217; Says Analyst Despite Delivery Miss, 8% Stock Drop In After-Hours Trading</a>
Why It Matters: The world&#8217;s markets responded quickly to what Trump referred to as &#8220;our Declaration of Economic Independence&#8221; and &#8220;Liberation Day.&#8221; Futures for the Dow Jones Industrial Average fell by around 830 points as U.S. futures fell.
The &#8220;Magnificent Seven&#8221; tech stocks bore the brunt, facing a projected $685 billion combined market value loss. Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) <a href="https://www.benzinga.com/markets/equities/25/04/44620686/sp-500-nasdaq-futures-plunge-over-3-as-trumps-reciprocal-tariff-plan-hits-market-confidence">led declines, dropping 7.14%</a>.
Summers cited past analysis showing nearly a &#8220;dollar-for-dollar&#8221; impact on consumer prices from Trump&#8217;s first-term tariffs. &#8220;The proximate effect will be to boost prices, with effects then rippling out to include less employment and reduced investment,&#8221; he said. &#8220;This is a classic supply shock that puts the Federal Reserve in a very difficult position.&#8221;
Condemning the measure as &#8220;typical unilateral bullying,&#8221; <a href="https://www.benzinga.com/news/global/25/04/44620889/trumps-liberation-day-tariffs-roil-markets-as-china-slams-typical-unilateral-bullying-asian-markets-plunge">China threatened to take retaliatory action</a>. The Nikkei 225 in Japan dropped 2.95% on Thursday as Asian markets declined.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44620056/dr-doom-nouriel-roubini-trumps-liberation-day-tariff-label-is-orwellian-doublespeak-us-playing-with-fire" target="_blank" rel="noreferrer noopener">‘Dr. Doom&#8217; Nouriel Roubini: Trump&#8217;s ‘Liberation Day&#8217; Tariff Label Is Orwellian Doublespeak, US ‘Playing With Fire&#8217;</a></li>
</ul>
Image via Shutterstock

AAPL

Larry Summers Warns Trump's Tariffs Will Deliver 'Oil Crisis-Like Shock,' Slash $30 Trillion From Economy As Markets Plunge

Press Releases

Yext Announces Third Quarter Fiscal 2025 Results

Yext to Present at Upcoming Investor Conferences

Diligent Announces Market Insights Reporting Powered by S&P Global Market Intelligence, Giving Directors and Executives Unrivaled Financial and Risk Insights

Yext acquires Places Scout, Strengthens Competitive Intelligence and Benchmarking Capabilities

Yext to Announce Fourth Quarter and Fiscal Year 2025 Financial Results on March 5, 2025

Yext to Host Investor Day on April 2, 2025

Introducing Yext Scout, An AI Search & Competitive Intelligence Agent Redefining Brand Visibility

Yext Announces Fourth Quarter Fiscal 2025 Results

Yext to Participate at Upcoming 2025 Investor Conferences

Specright Announces Appointment of Mike Boese as CEO; Founder Matthew Wright Transitions to Executive Chairman

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